AUD/USD Price Analysis: Aussie trades below 100-day SMA for first since May


  • AUD/USD has breached key support for the first time in five months. 
  • The daily chart indicators indicate scope for continued sell-off. 

AUD/USD is trading below its 100-day simple moving average (SMA) for the first time since May 18. 

At press time, the pair is trading at 0.7080, representing a 0.16% decline on the day. Meanwhile, the 100-day SMA is located at 0.7096. 

A close below that SMA support would validate the bearish view put forward the daily chart indicators and could yield deeper declines.

The MACD histogram has crossed into a bearish territory below zero. The below-50 reading on the 14-day relative strength index indicates the path of least resistance is to the downside. 

Further, the trendline connecting Sept. 1 and Sept. 16 highs is intact. Meanwhile, the downside break of the ascending trendline rising from Sept. 25 and Oct. 7 lows is still valid. 

Support is located at 0.7006 (Sept. 25 low), while resistance is seen at0.7243 (Oct. 9 high). 

Daily chart

Trend: Bearish

Technical levels

AUD/USD

Overview
Today last price 0.7079
Today Daily Change -0.0014
Today Daily Change % -0.20
Today daily open 0.7093
 
Trends
Daily SMA20 0.715
Daily SMA50 0.7206
Daily SMA100 0.7093
Daily SMA200 0.6789
 
Levels
Previous Daily High 0.7172
Previous Daily Low 0.7055
Previous Weekly High 0.7244
Previous Weekly Low 0.7096
Previous Monthly High 0.7414
Previous Monthly Low 0.7004
Daily Fibonacci 38.2% 0.71
Daily Fibonacci 61.8% 0.7127
Daily Pivot Point S1 0.7041
Daily Pivot Point S2 0.699
Daily Pivot Point S3 0.6924
Daily Pivot Point R1 0.7158
Daily Pivot Point R2 0.7224
Daily Pivot Point R3 0.7275

 

 

 

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